President proposes Arthur Javadyan’s candidacy for CBA Chairman

Serzh Sargsyan has again proposed Arthur Javadyan as candidate for chairman of the Central Bank of Armenia for the second term.

In his speech at the Armenian National Assembly, Mr Javadyan thanked the country’s leader and the government for confidence and promised to work more productively. Before the legislature proceeded to elect CBA Chairman by secret ballot, lawmakers addressed questions to Arthur Javadyan.

Opposition MP Nikol Pashinyan asked Mr Javadyan whether the lawyers employed at the CBA had informed him that certain provisions of the funded pension system had been recognized as anti-constitutional. Pashinyan also wanted to hear Javadyan’s opinion on the mandatory component of the law. The CBA Chairman said that salaries had not been increase with the exception of seniority pays.

“Compared with commercial banks, the salaries at the CBA are very low and many leave the Bank seeking employment in other places. As far as the mandatory component of the law is concerned I must say that as a citizen of Armenia I am obliged to present my adequate response. We are trying to fill the gaps caused by the decision of the Constitutional Court. Of course, the mandatory component will not be eliminated. We are trying our best to comply the law with the CC ruling. This implies in-depth discussions and consultations.”

“It means that you are going to keep the content and bring the law to the constitutional field with some changes in design,” said Pashinyan.